Galenica (GALE) Investor presentation summary

Company overview and strategy

• Leading integrated healthcare provider in Switzerland with over 500 pharmacies and a broad range of home care, logistics, and IT services.

• Operates the largest pharmacy network in Switzerland, both online and offline, with a market share of ~25% in sales.

• Growth driven by organic expansion and targeted acquisitions, including recent integration of Labor Team and focus on homecare.

• Strategic partnerships and joint ventures, such as with Redcare Pharmacy, enhance digital and mail-order capabilities.

• Strong brand portfolio in consumer healthcare, leveraging retail platform for distribution and market leadership.

Financial performance

• Net sales reached CHF 4,135.6 million in 2025, with adjusted EBIT of CHF 234.8 million and a dividend yield of 2.6%.

• H1 2026 net sales grew 7.1% to CHF 2,136 million, with EBIT up 7.1% to CHF 118 million and net profit up 1.3% to CHF 92 million.

• Gross margin improved to 28.7% in H1 2026, with strict personnel cost discipline offset by acquisition-related changes.

• Board increased dividend by 8.7% for 2025, maintaining a policy of stable, growing dividends.

• Debt coverage ratio increased to 2.7x due to seasonal working capital build and ERP migration.

Business segments and operations

• Products & Care segment generated CHF 1,816m in net sales and CHF 175m EBIT in 2025, driven by pharmacy network and strong generics substitution rate (79.6%).

• Logistics & IT segment delivered CHF 3,333m in net sales and CHF 62m EBIT, with leadership in wholesale and pre-wholesale distribution.

• Diagnostics business expanded with acquisition of Labor Team, now operating Switzerland's fourth largest lab.

• Services & Production segment showed strong growth in homecare, digital platforms, and medication safety solutions.